Marketing Interactions

27 Benefits from B2B Lead Nurturing

Many B2B marketers will tell you they have a nurturing program. If you ask them what benefits they hope to gain, they'll likely talk about the goals for the program in relation to the number of sales opportunity conversions or revenues produced from marketing-driven customer acquisition.

Those are great goals, of course, and ones we need to realize for our companies, but we also need to think about the other benefits our companies can derive from consistent and relevant nurturing programs that help to produce those big payoffs.

In no particular order, here are 27 benefits that came to me off the top:

1. Interest/Pain identification
2. Increased credibility (propensity to opt in)
3. Thought leadership recognition (higher trust)
4. Buying path (stage) definition
5. Segmentation opportunities
6. Market awareness
7. Strengthened company positioning
8. Interactive online dialogues
9. Conversation generation (online and off)
10. Idea transference
11. Ongoing storyline engagement
12. Prospect intelligence beyond demographics
13. Identification of industry trends
14. Peer-to-peer referrals (here's a link to...)
15. Longer reach (unlimited distribution potential)
16. Greater depth (reach influencers beyond decision makers)
17. Marketing and sales alignment
18. Seamless sales enablement
19. Customer retention
20. Increased customer lifetime value
21. Cross-sell and Up-sell potential
22. Increased customer satisfaction
23. Inclusion in closed-door conversations (when you're not there)
24. Agile response to market shifts
25. Consistency in relevance and value delivery
26. Acceleration in growth of pipeline
27. Shorter time to revenue

You may be looking at this list and wondering just how you'd realize and capitalize on all these benefits to get those big payoffs mentioned at the beginning. This is where marketing automation comes into play. Companies like Genius.com, Marketo, Manticore Technology, Silverpop, Eloqua — and others — are the engines behind nurturing programs.

Lead nurturing is as much an exercise in content strategy execution as it is in syncing the people and processes that drive your business' success. Technology is the enabler that pulls it all together.

Marketing is not just a stand-alone department within our companies. At least it shouldn't be.

Just in case you think you can get all of this by executing the same old marketing campaigns the way you've always done them, think again. Your buyers have changed. If you want to reap all of these benefits (and I'm sure I've forgotten some), you must focus first on getting to know your buyers and customers as well as you know your products and base your nurturing programs on that intelligence.

Because, after all, it's truly all about them.

Never forget that many of these benefits are based on how well you can learn to read your prospects' behavior over time and how prepared you are to respond when they ask you to. That's one reason why marketing will always be a combination of art and science — that human factor.

Feel free to contribute any benefits you see that I've forgotten and I'll add them to the list.

Do Your Marketing Emails LIE?

Every once in a while - as you who read my blog know - I get a bit irked at the irresponsible email practices of companies that play fast and free with their databases. So, here's my latest rant about bad email practices.

Although, this one is simple - Don't Lie to Your Leads!

The sad part about this is that it's from a marketing solutions company.

They start off with thanking me for visiting their booth at Dreamforce. Which I did not. And the message tells me they likely sent a blanket email to the entire attendee list.

Then there's this paragraph:

"I have appended a "Weekly Marketing Insight" below which I thought you would find interesting. Sent to your Inbox automatically, it helps uncover where you might consider saving marketing dollars, which of your online prospects should be followed up on immediately, and which web pages are viewed the most by your target markets."

I thought, Cool - something useful. And scrolled down. But what I found wasn't useful. Heck, it wasn't even truthful.

They proceeded to show me a few charts professing to reveal activity at my website. However, when matched against my analytics for the week specified, the numbers had zero correlation to reality.

The next chart showed what they said were statistics for the top 5 web pages visited during that week and asked me if my content was up to date.

The extensions for those pages included:

• Home
• About
• Leadership
• Pricing
• Careers

I only have 2 pages that correlate to those. None with the same name on the title or meta tags, or navigation - so I'm wagering this is a guess at matching to a stereotypical corporate website structure. As well, the numbers were laughable they were so far off. And, of course had to be counting ghost visitors for those pages that my website doesn't have. Too bad they missed Halloween.

Obviously the whole thing was a big joke. A bad attempt to fool me into thinking they had provided something valuable.

Did they think I wouldn't know? If I didn't know, do they think I wouldn't go to my people who do know and ask?

The big question is: Did they bother to think about the damage they'd do to their credibility and reputation when they sent out such schlock? Because, as far as I'm concerned, they just stuck a fork in themselves. They're done!

Do NOT lie to your leads. Not ever.

Do NOT make cheap attempts to fool them into responding to you, or clicking on the associated link for a free trial under false premises.

The truth eventually comes out. I can't imagine it would take longer than 5 minutes in this case. What a waste of engagement points.

Take 3 Steps Before Creating a Nurturing Program

I'm getting a lot of questions about how to get started with a nurturing program. Bravo to those marketers who are actively reaching out to get started!

I thought it might be useful to present 3 steps for evaluation that will help you create a baseline for building an effective nurturing program. 

First - About your customers:

• Who buys from us?
• Why do they buy from us?
• What do they need to know to make a purchase decision?
• Who influences our buyers?
• What could stop them from choosing to buy?
• Is one kind of customer more ideal than another? Why?
• What's your best foot-in-the-door sale?

Second - Evaluate your prospect database:

• Who's in it?
• Did THEY opt in or did YOU opt them in?
• How do the prospects in your database match up with what you know about your customers?
• How are you getting more prospects to opt in?
• When's the last time your database heard from you?
• What topics have they responded to?
• What's your opt out rate?

Third - Audit Your Website:

See my recent blog post about how to audit your web pages.

• How much information on your website matches the answers to the questions in the About Your Customers step above?
• What can be improved?

In case you're wondering, the reasons for auditing your website are to ensure that the messaging you're already sharing is in alignment with prospect needs. You also want to make sure that your nurturing programs are reinforced by your website content, not in conflict with it.

Nurturing programs are about so much more than just a continuous touchpoint program for prospects. They're about creating a consistency in brand and content and inviting interactions that reinforce and strengthen the choice of your prospects to continue to engage with you. Not to mention that a holistic presence will enhance your prospects' perceptions of your company's credibility and expertise for solving the problem at hand.

Deal or No Deal - Sales Mistakes to Avoid

Rain Today issued a new eBook last week the reflects the results of a survey they conducted to learn about the problems buyers experience when engaged in the purchase of professional services. What's frightening is that 80% of buyers say they encounter at least one major problem during their buying process.

What I like about this report is that it doesn't just tell us where sales messes up and loses deals, it actually shows how much more successful they can be if they correct the mistakes that turn buyers off.

The Top 3 Faux Pas of Salespeople:

38% of buyers say the salesperson didn't LISTEN to them.

96% of those buyers say they'd be somewhat to much more likely to buy from a salesperson who listened.

30% of buyers say the salesperson didn't understand their NEEDS.

100% of them said they'd be somewhat to much more likely to buy from a salesperson who crafted a compelling solution that met their needs. Go figure!

30% of buyers say the salesperson did not RESPOND to them in a timely manner.

94% of them said they'd be somewhat to much more likely to buy from a timely salesperson.

In an age of selling where the buyers control how they buy, we'd better get our skills in order. Just imagine how much money is being left on the table. Oh yes, and even though this survey was conducted for professional services selling, my instinct tells me it's not too far off from other industries.

Go download the report and see all the other issues buyers are experiencing. Can sellers really afford not to be top notch?

Dreamforce 09 Day 1 - Lots of Chatter

The first thing I have to say about Dreamforce is WHOA! 19,000 people registered this year, from 60 countries. So many were in attendance that they had to have an overflow room for about 3,000 to watch Marc Benioff's keynote from afar.

Salesforce.com clearly wants to see everything in the cloud...their cloud.

What's not to like? A multi-tennant, pay-as-you-go, elastic platform that allows your company to expand or contract as needed is pretty compelling. And according to IDC, it's 5X faster and about half the cost to build apps in the cloud. IDC found that companies were able to reduce TCO by 54%. Even better, it's accessible for small to midsize to enterprise companies.

The theme that emerged was all about social media, collaboration and conversations in the enterprise. In fact, Marc Benioff said that CRM could be redefined as "Collaboration Relationship Management." Which didn't resonate with me. How can you take the customer out of the equation?

Benioff talked about how contact centers were disconnected from the conversation. Where companies are  invested in Oracle, SAP, Amdocs, Siebel and Microsoft, customers are over on Google, Facebook, Twitter and Community Sites.

Which brings us to the 4th cloud announcement of Chatter - "the magic of Facebook and Twitter brought to the enterprise." Essentially, Chatter is the integration of content, apps and people in a real-time model. (The other 3 clouds are Sales, Service and Custom)

Benioff's assertion is that through the personal use of social media, we know strangers better than we know our own employees or what's happening with our companies and our customers. That we're at a disadvantage because we don't know the status of deals and executives.  He asserts that we can transform how we work with the ability to "follow" content, apps and people, so we're always on the latest "page" of what's happening.

I have to say there are some compelling opportunities with Chatter, but I believe companies will need to be careful to create context and value when they start streaming social media into enterprise applications. I was waiting for clarity around how Chatter will help us do business faster and better, but it seemed a lot like adding more "chatter" to an already information intensive work environment.

However, at lunch I learned that Chatter access is controlled by roles so that should provide some control over who is deluged with what. But I'm still wanting more context around work flow.

The intention that conversations are captured into the knowledge base for reuse and enabling better access to the latest information (both within and from outside the company) is compelling and similar to the Tribal Knowledge process evangelized and empowered by SAVO Group. That idea has merit I can get behind.

But, I still wonder what will happen if an employee chooses to follow one exec and not another...hmm.

[As an aside, I could've lived without the wind-up chattering teeth.]

As a preview to my next post, I was impressed with Sales Cloud 2...

Manticore Technology VII is All About Marketers

I've known the folks at Manticore Technology for quite a while. I've been watching their progress and I've been impressed by their interest in learning what's working and what's not for the companies who implement marketing automation.

Based on feedback from their customers, they've taken note that a one-size-fits-all mentality doesn't work for marketing, nor does it work for the technology that supports it. Bravo!

Manticore Technology's VII release has a really intuitive user interface that allows each marketer to customize their display so they have just the tools and reports they need in view. The drag and drop was so easy I wanted to wrestle the mouse away from Christopher Dolan, their VP of Marketing, when he was giving me a preview.

The other thing I like about the dashboard is that the top of the left navigation shows you all things you've recently used so you don't have to search for them.

In case you're wondering, Manticore Technology has had a really nice year. Their customer acquisition for 2009 is up 117% over 2008. Companies are obviously responding to their well-designed changes.

For example:

Program Trees: I'm not sure what they call them, but the planning tool for nurturing programs is one of my favorites. Manticore enables marketers to see the entire nurturing chain like a decision tree. You can view the whole thing instead of having to pull up different campaigns and try to visualize how they work together, or figure out where the gaps are that you overlooked.

Asset Folders: This is a very cool way to manage your marketing assets. Just like you create folders in MSFT Word, you can do so here, with hierarhy as you need it. Then you drag and drop assets into them so you can see at a glance everything being used by month, by campaign, by segment, or however you like.

The improved visibility is a boon for taking control of your marketing funnel, but the simplicity is what's really compelling. Marketers are busy. We've got so much on our plates that we certainly don't need to struggle with the technology that's supposed to be enabling - not aggravating.

I say, Good Job, Manticore! Go check it out for yourselves...there are a lot of other new things to see like the email wizard and drag and drop list building that makes segmentation a breeze!

Nurturing and Engagement - Webinars and Book Giveaways

I'm excited to share some events coming your way. I'm participating in two webinars that will help you get a handle on designing nurturing programs that drive sales and how to integrate 3 "must have" components to make it happen.

How to Design Nurturing Programs That Drive Sales

Date: November 19, 2009
Time: 11AM Pacific, 1PM Central, 2PM Eastern

Brian Carroll, CEO of InTouch, and the B2B Lead Generation Roundtable are sponsoring this webinar where I'll share insights to help marketers create a nurturing program that parallels how your prospects move through their buying process.

I'll discuss:

• The Nurturing Cycle - which is different than lead generation activities.
• What's changed in the buying process, and how you adapt.
• Mapping content to buying stages - it's really not so hard when you answer questions.
• How a style baseline can help to ensure relevance with every touch.
• What you can learn from the content your buyers read.
• And more!

I'm also giving away a lead nurturing guide to all attendees and several autographed books to a few randomly selected attendees. Please join us!

But hang on, there's more!

3 Must-Haves for Successful Lead Nurturing resulted from a brainstorm with Craig Rosenberg and the Focus.com folks.

Date: December 8, 2009
Time: 10AM Pacific, 12 Noon Central, 1PM Eastern

This webinar is a panel discussion moderated by Craig that brings together 3 of us who spend a lot of time in the trenches to discuss the critical components B2B companies need to incorporate to develop and execute successful lead nurturing programs.

I'm, of course, discussing content. Brian Carroll is plugging in The Human Touch that's the hinge for complex sales and Scott Mersy from Genius.com is pulling it all together with the critical role played by Marketing Automation Technology.

The three of us are focused on helping you learn best practices for:

• Incorporating the evolving opportunities the Internet empowers for building relationships that shorten time to revenue.
• Developing contextual stories that relate to your prospect’s specific situations—their challenges, issues, and opportunities.
• Creating online content and communication strategies that promote offline conversations.
• Generating levels of responsiveness that build engagement across the buying process.
• Providing information salespeople can actually use in a way that’s intuitive for them.
• How to use contagious content to facilitate prospect progression.
• How to transform handing off sales-ready prospects so our sales teams can take immediate action to follow up.

And, you'll get more chances to win my new book, eMarketing Strategies for the Complex Sale, and some other fun bling I'm giving away in celebration of my book release. Sign up Right Now!

Audit Your B2B Website for Engagement

B2B companies say that improving their websites is a priority for 2010. I'm not sure exactly what they're thinking, but I do know that — before they do anything — they need to evaluate the website they have now in order to create a renovation plan.

I suggest that an audit be conducted for each web page, or at least your main pages if your site is really intense. The benefit of doing this audit will help to position your web pages to generate more responsiveness from your prospects and customers.

Some of the things overlooked on B2B websites include:

• Web pages are not stand-alone. They need to be integrated in a way that leads your website visitors to the information they find useful based on interest.


• Just because your navigation creates siloed areas of content doesn't mean your web pages need to follow suit.


• Your website is not a brochure all about YOU and your products. If it's not designed with your prospects and customers in mind, you lose. That means every single page.


• Each page has about 3 - 5 seconds to catch attention. Don't bury your hook.

I've created a simple Web Page Audit Form to get you started.

Here are the steps for auditing your web pages:

• Main Topic: Each web page should have a focus. You should be able to summarize the main topic in a sentence.


• Question Answered: When prospects are searching for information, they are seeking answers to questions. Which question does your web page answer? As you audit your web pages, you should begin to see the possibilities for ways to connect your content into pathways that apply to buying stages - or you'll see gaps that need to be filled.


• Call to Action: You need to show your prospects how to take next steps given the information they've just accessed.


• Takeaway: If all they read is this one page, what impression are you leaving with them? A takeaway is different from a call to action.


• Use of Company Focus: Print off your page and circle all the instances where you've used words such as; we, our, our company, company name, us, product names, features, etc.


• Use of Prospect Focus: Use a different color pen and circle all the instances where you've used words such as; you, yours, your company, roles (VP, CIO, Entrepreneurs, etc.), benefits and outcomes, etc.
  
  [Which side weighs in heavier? How focused on your audience is your content?]


• Keywords and Phrases: Now circle the keywords and phrases you're using on the page. Are they words your prospects use to search with? Or, are they only what you think are important. If you search for these terms in a search engine, does your page show up? Which words and phrases might work better at catching your prospects' attention?


• Time Spent: Get into your analytics and determine how much time people are spending on the web page. Is it enough to read and comprehend the content? Or is it only enough for a brief scan? Do they exit or do they visit another web page? Is the content they view next related to the topic of this page?


• Related Web Pages: What options do you provide to entice your prospects to spend more time with you? Which pages do you have that could be incorporated to enhance the experience you're providing to your website audience?

If you'd like a copy of the Web Page Audit form, download the PDF.

Once you've audited a number of pages, it's likely you'll see a pattern for revisions. You'll also discover new possibilities for creating an integrated experience for how your website visitors engage with your content. Finally, it should become really clear how to improve your online dialogue with your prospects and customers because your website will have the potential to become all about them. And that's a good thing.

eMarketing is Not a Formula

I've been asked a lot of questions lately about formulaic approaches to eMarketing. People want some kind of measuring stick to compare their results to those of others. Some kind of way to prove they're succeeding in comparison to the guy down the street.

I'd like to propose that that kind of perspective is a bunch of bull puckey.

Buyers are not the same. They don't think the same ways and they don't go through their buying process in the same order of activities. Their thought processes and their situations have different nuances that won't match up with a formula.

If the guy down the street says they've increased lead generation by 25% with their email outreach program this month and you've only increased yours by 10%, are you a laggard?

Well, that depends upon who opted in.

Are they viable prospects with a high propensity to become sales opportunities or are they just contacts added to your database because they wanted whatever that specific content offer promised?

If that 10% of additional leads are truly engaged with your company, showing interest beyond the content offer that enticed them to opt in, then it's more likely you're going to see some revenue coming down the pike as a result. That doesn't say "laggard" to me.

That's what eMarketing is all about. Activities that drive future revenues by building mutually valuable relationships with prospects and customers. 

The only way to employ eMarketing strategy successfully for your company is to focus on and respond appropriately to the behavior of your buyers. Having a plan is great, but you've got to continuously refine and adjust based on what your prospects show interest in.

Three touches and a sales offer is a formula. It's a halfway-in attitude. What it says is that you'll give them a taste, but then they have to ante up. It's self-serving and not highly effective in a lengthy complex sales process.

Instead, focus your eMarketing strategies on long term generosity. Measure against your past results and set your own benchmarks. Improvement is all about your relationships with your buyers, not your numbers against what the guy down the street is doing.

Refine and improve based on how your prospects are responding to your content and communications. Tweak and tune to increase relevance. That's what counts and that's what's going to produce sales opportunities that turn into customers.

A formula offers a false sense of security. It's a recipe that dictates you follow-it, regardless of what your prospects tell you. It promises if you take steps A + B + C that you'll get a specific outcome. It's like wearing blinders and believing you're in control.

If only your prospects were that predictable.

Instead, go All-in and provide continuous value. Focus your strategy on creating pipeline progression. A strategy is a process that requires continuous adjustments parallel to your prospect's changing needs and priorities. When you approach eMarketing in a holistic manner, you'll see impressive results. 

Every client project I work on requires a unique approach. That's because every company I work for has uniquely differentiating qualities. The relationships they build with their customers are influenced by those nuances. Your company is no different.

Trust me, formulas are not the answer for implementing eMarketing strategies.

eBook: Tune Up Your Customer Focus

In my book, eMarketing Strategies for the Complex Sale, I talk about how B2B marketers need to really get to know their customers in order to improve their marketing effectiveness. One of the exercises presented in the book is The Customer Focus Tune-up. This eBook expands upon that exercise.

In the eBook, I present:

• A breakdown of the steps in the complex buying process.
• 4 Steps to improving your customer intelligence.
• How to apply those insights to content development.
• Applications for putting your customer focus to work.

Download the complementary eBook.

To learn more about creating contagious content that produces quantifiable eMarketing results, you can always buy the book...or at least go download 2 chapters